SET expects foreign infra funds to list here this year

THE Stock Exchange of Thailand (SET) expects infrastructure funds in Asean countries to raise capital in the Thai bourse this year, SET president Kesara Manchusree has told The Nation.

“This would be the first time foreign infrastructure funds have raised capital on the SET,” she said after a joint Laos-Thai Strategic Partnership Forum on Thursday.

She said the Thai exchange encouraged joint listings with bourses in the CLMV subregion (Cambodia, Laos, Myanmar and Vietnam), and was interested in helping businesses in neighbouring countries acquire sufficient capital to expand.

She added that the SET was open to foreign companies raising capital on the Thai bourse if they met its standards.

“We collaborated with Laos to develop its stock market five years ago, and we have continued to train its staff and related parties to develop Laos’ capital market as a tool for Laotian firms to raise capital.

As of now, five Laotian companies are listed on the Laotian stock market,” Kesara said.

Dual-listing

The SET has also invited Laotian companies to dual-list when they need to raise more capital on the Thai bourse for their business expansion.

The SET has also suggested that the Laotian government and private companies issue infrastructure funds when the country needs capital to develop its infrastructure.

“Such infrastructure funds could raise capital from both the Laotian stock market and the SET. In that way, they could maintain their ownership rights while also acquiring capital for business expansion,” she said.

She added that the SET believed that within five years, a number of CLMV companies would be dual-listed on the Thai exchange, which will facilitate long-term growth of such companies and their countries.